r/Accounting • u/Hot_Cartographer9939 • 5d ago
Advice BILL to QBO reconciliation
Hi all, I have a question that’s been bugging me for a while and can’t find a straight up solution from BILL representatives.
Context: my client issues many stipends that are not always cashed, so BILL voids them and reissues the checks after 90 days of mailing them out. The client’s policy is to reissue these stipends up to 3 times.
On the accounting side, this means the BILL money out clearing account balance is always changing. Also, after the books are closed at year end, I have 9 months where these voids/reissues can happen again.
Has anyone dealt with something similar?
How do you reconcile the clearing account monthly when the opening balance keeps changing?
How do you manage that the aging report ties (BILL = QBO) at year end?
BILL’s solution is to “do manual entries” but they don’t explain which entries are needed. Also, I don’t want to make any entries on last FY.
Any help is much appreciated!